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ANOKA COUNTY HOUSING STUDY DEMOGRAPHIC ANALYSIS <br />$120,000 - <br />$100,000 <br />$80,000 <br />$60,000 <br />$40,000 <br />$20,000 <br />$o <br />Median Household Income <br />Anoka County, 2010 <br />i ot oz ,".- ve „9.<4,- e- ,e9-- e6 / <br />v �ti G� °o S <br />G�* ti v$°v ti$ O <br />4•`a' Submarket Median Income 0County Median Income <br />• Households earning below 50% of the Area Median Income (AMI) are qualified for deep <br />subsidy housing while households earning between 50% and 80% AMI are qualified for <br />shallow subsidy housing. All households earning about 80% AMI comprise the target <br />market for market rate housing. <br />• As of 2010, the income -restrictions for deep subsidy housing are between $29,400 for a one - <br />person household up to $48,750 for a six -person household. For shallow subsidy housing, <br />the households earning below $47,040 for a one -person household to $78,000 for a six - <br />person household would be income -qualified. All households earning above these levels, <br />with adjustments for household size, would able to afford market rate housing. <br />• Housing demand estimates presented later in this analysis take the number of income - <br />qualified households into account when considering the depth of demand for various housing <br />products. Additional factors considered in the demand calculations include age distribution, <br />growth forecasts, household tenure, existing housing supply, and market trends. <br />Table A-18: Household Tenure Trends <br />• In 1990, 81.2% of all households in Anoka County owned their housing. By 2000, that <br />percentage increased to 83.4%, as nearly 91 % of the new households added during the 1990s <br />were homeowners. <br />• The homeownership rate as of 2010 is 84.4%, which represents an increase of about 17,190 <br />homeowners (90% of new households) since 2000. <br />MAXFIELD RESEARCH INC. 11 <br />